destin real estate

Fannie Mae Tightens Policy

One more reason that a short sale is better than foreclosure … The government-owned mortgage giant Fannie Mae issued the following warning:

“Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure.”

Prior to this policy change, a foreclosure would render the mortgagor ineligible for 5 years. However, if you complete a short sale instead, the prohibition is a mere 2 years – Approximately the length of time it takes the average consumer to get back on their feet again.

FEMA Flood Insurance Expires Again

The Mensas in Washington (Congress) took their March recess without extending the FEMA flood program which expired March 28. The program was temporarily restored on April 15 and then, due to inaction on the part of Congress, expired again on May 31.
Fortunately, FEMA Flood Insurance policies are assumable. That means that home resales will not likely be affected (in the short term) by this Congressional blunder. It is time to write our Congressmen!

 

ED AND TERRI SMITH RANKED #5 IN FLORIDA

Broker/Owners Ed and Terri Smith were recognized by RE/MAX International for their ranking as #5 among all residential real estate teams in Florida Y-T-D through April 30, 2010. Long time top producers in the local real estate market, the Smiths closed 92 real estate transaction sides in 2009.  Additionally, the Smiths were ranked  #9 in the state of Florida by RE/MAX International for 2008 and 2009. 
 
The Smiths opened their first RE/MAX office in Destin 20 years ago, April, 1990. They just relocated their office to the old “Cox and Young’ building on Highway 98 in the heart of Destin between McDonald’s and Golden Corral.  “Cox and Young opened in 1973 and was the first recognizable real estate office in Destin” Ed said.  “The visibility is great and the walk-in traffic is excellent. The move was a great decision!”
 

RE/MAX operates 7,000 offices in 80 countries worldwide which is an international presence far greater than any of its competitors. RE/MAX has been honored as the leading real estate franchise for nine of the last ten years by Entrepeneur Magazine.

Supreme Court to hear case on Florida’s beach renourishment

Washington Post
In Print: Wednesday, November 25, 2009


DESTIN — The sugar-white sand that stretches from Slade and Nancy Lindsay’s deck to the clear, green waters of the Gulf of Mexico is some of the finest in the world. Tiny quartz crystals make the beach that stretches along the Florida Panhandle unique, experts say.
 
So what could be wrong with creating more of it?
 
That is what Florida’s beach restoration and renourishment program has been doing statewide for years, pumping in wide new strips of sand to save eroding shorelines.
 
But the Lindsays and other homeowners challenged the program because it comes with a catch: The new strips of beach belong to the public, not the property owners. They feared their waterfront view of bleached sand and sea oats would include throngs of strangers toting umbrellas and coolers.
 
The Florida Supreme Court disagreed that the homeowners’ property rights had been infringed upon just because their waterfront property line may not actually touch the water.
And that decision, in turn, has created a new challenge from the landowners: that the state high court ditched 100 years of common law to endorse the beach renourishment program, depriving them of their constitutional rights.
 
It is the latter charge that created the unusual case that the U.S. Supreme Court will hear next week. Justices will examine a concept they have pondered for more than 40 years without resolution: whether a decision by the judicial branch can create the kind of taking of private property forbidden by the Constitution.
 
Beach renourishment has long been a controversial subject in Florida. Beyond the arguments over the environmental effects, there has been debate on whether millions of taxpayer dollars should be spent for projects that so often benefit private homeowners and businesses.
 
Since 1997 Congress has appropriated $100 million on average per year for beach renourishment through the Army Corps of Engineers.
 
In 1998, the Florida Legislature dedicated a source of funding, which is appropriated at roughly $30 million annually, for state participation in beach erosion control projects.
 
Homeowners are often glad for the help, but the response was different in parts of Destin. The town’s population of fewer than 13,000 swells to nearly 60,000 during what City Manager Greg Kisela calls the “100 days of summer,” the visitors lured by a picturesque combination of sand and surf.
 
Kisela said the beaches are “the economic engine that drives this market” and acknowledged that with the area’s development, “there’s less beach to go around and more people to enjoy it.”
 
Slade Lindsay and his lawyer Kent Safriet of Tallahassee say that sentiment — and not erosion — was the real reason for state and local officials to initiate the nearly 7-mile restoration project in Destin.
 
“It was a way to bring tourists in, where the tourists could go and not have local property owners say yea or nay about it,” Lindsay said.
 
That is because the Florida law changed where to affix the property line for beachfront owners. In most coastal states, it is set at the mean high water line — a fluctuating boundary. Landowners own everything upland of the mark, while the state owns the land seaward. If sand accumulates and creates new beach, it generally benefits the landowner.
 
But when Florida sets out to fix an eroding beach, it decides on a permanent boundary, called an erosion control line. It, too, is usually set at the mean high water line. But after that, any sand that accumulates seaward, either through natural forces or the state’s efforts, belongs to the public.
 
“They’re trying to make a beach without paying for it, whereas if they took the beach by eminent domain, they’d have to pay for it,” Safriet said.
 
The Florida Supreme Court disagreed in a 5 to 2 vote. It said the restoration program reflected “the state’s constitutional duty to protect Florida’s beaches.”
 
But there was a fiery dissent from Florida Justice Fred Lewis that probably caught the attention of the U.S. Supreme Court. He said his colleagues had “butchered” Florida law.
 
The case has drawn considerable interest from conservative and libertarian legal groups and property rights advocates, on one hand, and support for Florida from a majority of states, the federal government and coastal advocacy groups.
 
But the federal government said that the case is an unsuitable vehicle for deciding an issue of such consequence and that the Florida ruling was well-supported.
 
Solicitor General Elena Kagan warns the court that getting involved in reviewing such decisions will require the Supreme Court to delve deeply into a state’s common law and second-guess Florida’s high court.

First Time Homebuyer Tax Credit Passes House

Congress passed an expanded version of the first-time homebuyer tax credit today. The bill is expected to be signed by Obama as early as tomorrow. The tax credit remains capped at $8,000, but the income limits for the first-time buyers has been raised, which will serve to allow even greater numbers of buyers to participate.

 

In the bill, income limits for buyers claiming the tax credit will be raised from $75,000 to $125,000 for individuals and from $125,000 to $225,000 for couples. The maximum ceiling for a home purchase under this program is $800,000. (Not bad for a first time purchase.)

 

There is an additional provision in the bill that allows for a tax credit of up to $6,500 to existing homeowners should they sell an existing primary residence and purchase another. Under that provision, they must have lived in the home for at least five of the past eight years.

Interestingly, the Senate approved the bill last week by a vote of 98-0. It passed in the House 403-12.

Household Tips …

Interesting tips … Cannot attest to the accuracy, but interesting nonetheless. 
Bananas
Take your bananas apart when you get home from the store. If you leave them connected at the stem, they ripen faster.



Cheese
Store your opened chunks of cheese in aluminum foil.
It will stay fresh much longer and not mold!

Bell Peppers
Peppers with 3 bumps on the bottom are sweeter and better for eating. Peppers with 4 bumps on the bottom are firmer and better for cooking.


Beef
Add a teaspoon of water when frying ground beef.
It will help pull the grease away from the meat while cooking.

Scrambled Eggs
To really make scrambled eggs or omelets rich add a couple of spoonfuls of sour cream, cream cheese, or heavy cream in and then beat them up.

Garlic
Add garlic immediately to a recipe if you want a light taste of garlic and at the end of the recipe if your want a stronger taste of garlic.

Leftover Snickers Bars
Leftover snickers bars from Halloween make a delicious dessert. Simply chop them up with the food chopper. Peel, core and slice a few apples. Place them in a baking dish and sprinkle the chopped candy bars over the apples. Bake at 350 for 15 minutes!!! Serve alone or with vanilla ice cream. Yummm!


Reheat Pizza
Heat up leftover pizza in a nonstick skillet on top of the stove, set heat to med-low and heat till warm. This keeps the crust crispy.. No soggy micro pizza. I saw this on the cooking channel and it really works.


Easy Deviled Eggs

Put cooked egg yolks in a zip lock bag. Seal, mash till they are all broken up. Add remainder of ingredients, reseal, keep mashing it up mixing thoroughly, cut the tip of the baggy, squeeze mixture into egg. Just throw bag away when done easy clean up.


Reheating refrigerated bread
To warm biscuits, pancakes, or muffins that were refrigerated, place them in a microwave with a cup of water. The increased moisture will keep the food moist and help it reheat faster.


Newspaper weeds away
Start putting it in your plants, work the nutrients in your soil. Wet newspapers, put layers around the plants overlapping as you go cover with mulch and forget about weeds. Weeds will get through some gardening plastic they will not get through wet newspapers.


Broken Glass

Use a wet cotton ball or Q-tip to pick up the small shards of glass you can’t see easily.


No More Mosquitoes
Place a dryer sheet in your pocket. It will keep the mosquitoes away.


Squirrel Away!

To keep squirrels from eating your plants, sprinkle your plants with cayenne pepper.The cayenne pepper doesn’t hurt the plant and the squirrels won’t come near it.


Flexible vacuum
To get something out of a heat register or under the fridge add an empty paper towel roll or empty gift wrap roll to your vacuum. It can be bent or flattened to get in narrow openings.


Reducing Static Cling

Pin a small safety pin to the seam of your slip and you will not have a clingy skirt or dress. Same thing works with slacks that cling when wearing panty hose. Place pin in seam of slacks and … ta da! … static is gone.


Measuring Cups
Before you pour sticky substances into a measuring cup, fill with hot water. Dump out the hot water, but don’t dry cup. Next, add your ingredient, such as peanut butter, and watch how easily it comes right out.

 
Foggy Windshield?
Hate foggy windshields? Buy a chalkboard eraser and keep it in the glove box of your car . When the windows fog, rub with the eraser! Works better than a cloth!


Reopening envelope
If you seal an envelope and then realize you forgot to include something inside, just place your sealed envelope in the freezer for an hour or two. Viola! It unseals easily.


Conditioner

Use your hair conditioner to shave your legs. It’s cheaper than shaving cream and leaves your legs really smooth. It’s also a great way to use up the conditioner you bought but didn’t like when you tried it in your hair.


Goodbye Fruit Flies
To get rid of pesky fruit flies, take a small glass, fill it 1/2′ with Apple Cider Vinegar and 2 drops of dish washing liquid; mix well. You will find those flies drawn to the cup and gone forever!


Get Rid of Ants

Put small piles of cornmeal where you see ants They eat it, take it ‘home,’ can’t digest it so it kills them. It may take a week or so, especially if it rains, but it works and you don’t have the worry about pets or small children being harmed!


INFO ABOUT CLOTHES DRYERS
The heating unit went out on my dryer! The gentleman that fixes things around the house for us told us that he wanted to show us something and he went over to the dryer and pulled out the lint filter. It was clean. (I always clean the lint from the filter after every load clothes.) 
 He told us that he wanted to show us something; he took the filter over to the sink and ran hot water over it. The lint filter is made of a mesh material … I’m sure you know what your dryer’s lint filter looks like. The hot water just sat on top of the mesh! It didn’t go through it at all! 
 He told us that dryer sheets cause a film over that mesh that’s what burns out the heating unit.You can’t SEE the film, but it’s there.  It’s what is in the dryer sheets to make your clothes soft and static free … that nice fragrance too.  You know how they can feel waxy when you take them out of the box .. Well, this stuff builds up on your clothes and on your lint screen .. 
 This is also what causes dryer units to potentially burn your house down with it! He said the best way to keep your dryer working for a very long time (and to keep your electric bill lower) is to take that filter out and wash it with hot soapy water and an old toothbrush (or other brush) at least every six months. He said that makes the life of the dryer at least twice as long!  Learn something new everyday! I certainly didn’t know dryer sheets would do that. 

Q: You said earlier that less than 20% of the short sales get approved. With those odds, why would anyone try?

 A: Although the national averages look gloomy, there is hope if you want to sell or buy a short sale. Many knowledgeable agents around the nation have much higher than average success rates.

Our personal short sale success rate now stands at more than 95%. As more agents become proficient with short sales, we believe that the national averages will improve as well.

On the other hand, consider how much smoother the process would be if the 80% that will never be approved were never submitted. The entire process would be much more streamlined and efficient.

 

ED AND TERRI SMITH RANKED AMONG TOP 100

RE/MAX International has released mid-year rankings and statistics for the nearly 95,000 RE/MAX associates and more than 7,000 offices system-wide.
 
RE/MAX Coastal Broker/Owners Ed and Terri Smith were recognized as #99 among all RE/MAX residential real estate teams in the United States. The year-to-date statistics also show the Smiths as being ranked #6 in the state of Florida.  
 
The Smiths are both Certified Distressed Property Experts (CDPE), Certified Residential Specialists (CRS) and Accredited Buyer Representatives (ABR). Additionally, the are both members of the RE/MAX International Hall of Fame.  Ed is a Certified Real Estate Brokerage Manager (CRB) and is e-PRO Certified. He has been awarded the RE/MAX Lifetime Achievement Award as well.  
 
It was also announced that RE/MAX Coastal ranks in the top 10% among all 231 RE/MAX offices in Florida in terms of Total Closed Sales Volume. Additionally, RE/MAX Coastal is ranked #6 in the state in terms of Average Sales per Associate.
 
RE/MAX leads the industry in terms of average sales per associate, professional designations and experience. RE/MAX operates 7,000 offices in more than 70 countries worldwide which is an international presence far greater than any of its competitors.
 
RE/MAX has been honored as the leading real estate franchise for nine of the last ten years by Entrepeneur Magazine.

Housing Affordability

For the first time in a long time, the real estate trend has taken a positive turn here. June single family sales in both Okaloosa and Walton Counties were actually up over the same month last year.

An anomaly? We don’t think so. Most of the rest of the state has been experiencing increases in the number of transactions as compared to last year. Perhaps the Emerald Coast simply lags a little behind?

Interest rates have ticked up a little in response to many factors, not the least of which is the threat of increased taxation. However, low demand has kept the markets competitive – at least for now.

Nevertheless, the all-important “Housing Affordability Index” now stands at a 28 year high.  Simply put, a higher percentage of Americans can afford to purchase a home today as compared with any year going back to 1981!

Check ourt website at http://www.FloridaBrokers.com for more!

RE/MAX INTERNATIONAL RECOGNIZES ED AND TERRI SMITH

Broker/Owners Ed and Terri Smith were recognized by RE/MAX for their ranking as the # 5 residential real estate team in the state of Florida Year-to-Date through the month of April.
 
Ed and Terri are both members of the RE/MAX International Hall of Fame. Ed is also a recipient of the RE/MAX Lifetime Achievement Award which has only been achieved by the top 2% of RE/MAX Associates out of the nearly 100,000 associates and brokers worldwide.

 
In local real estate for 22 years, the Smiths founded RE/MAX along the Emerald Coast in 1990. Both are Certified Residential Specialists (CRS) and Accredited Buyer Representatives (ABR) and Certified Distressed Property Experts (CDPE).  Ed is also a Certified Real Estate Brokerage Manager (CRB) and is e-PRO certified.
The Smiths  are assisted by four team members, two of which specialize as Buyer Specialists,  Kay Hutcheson who joined the team in 1999, and  Heather Swett, who has been a team  member since 2003. Barbara Elizondo, also licensed, has been a team member since 1997 and coordinates the entire team effort. Also affiliated is  Richard Stewart who directs short sale services and special marketing projects.
 
RE/MAX Coastal Properties is located at 125 Main Street, at Highway 98, in the heart of Destin in the Old Destin Bank Building.